Keystone Investors PTE Ltd. Cuts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Keystone Investors PTE Ltd. trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 38.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,172 shares of the semiconductor company’s stock after selling 3,799 shares during the quarter. Keystone Investors PTE Ltd.’s holdings in Synopsys were worth $2,996,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. boosted its holdings in Synopsys by 22.9% in the 3rd quarter. Raymond James Trust N.A. now owns 1,475 shares of the semiconductor company’s stock worth $747,000 after buying an additional 275 shares during the last quarter. Nwam LLC purchased a new stake in shares of Synopsys during the third quarter worth approximately $202,000. Cerity Partners LLC raised its stake in Synopsys by 23.4% in the 3rd quarter. Cerity Partners LLC now owns 47,954 shares of the semiconductor company’s stock valued at $24,284,000 after purchasing an additional 9,078 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in Synopsys by 41.4% in the 3rd quarter. Penserra Capital Management LLC now owns 11,129 shares of the semiconductor company’s stock valued at $5,634,000 after purchasing an additional 3,256 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Synopsys by 6.1% during the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $457.77 on Tuesday. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The company has a market capitalization of $70.78 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business has a 50-day moving average of $490.60 and a two-hundred day moving average of $506.31.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent research reports. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Piper Sandler dropped their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $638.58.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.